The Flashnet decentralized exchange reported that over the next two months, USDB stablecoin, developed on the basis of bitcoin, will launch with a binding to the US dollar.

According to the information provided by the information exchange, the USDB will be provided with US treasury bills, and Brale licensed in the United States will perform an estimate of the asset. The launch will be held on the NFT platform of Magic Eden.

Stablecoin is integrated into a mobile interface and a decentralized platform application. It will be the first step towards the creation of a native financial system based on the first cryptocurrency, representatives of the platform say.

According to Ethan Marcus, General Director of the site, traders will be able to create “Native pairs of BTC-stimblers”. Institutional investors will have the opportunity to hedge risks and manage reserves in dollars, without withdrawing assets from the first cryptocurrency network.

The developers will receive a reliable financial tool for creating applications. BTC-USDB liquidity pools will be presented. Thanks to them, market participants will be able to exchange the first cryptocurrency for US dollars directly on the network, bypassing intermediaries, representatives of the exchange pointed.

Earlier, the heads of the Bank of International Settlements (BIS) expressed fear that stablecoins could violate the monetary sovereignty of a number of states and provoke the outflow of capital from developing countries.